Franklin Templeton Investments finalized a deal to acquire the remaining 80 percent stake of Pelagos Capital Management, an investment firm focused in alternative investments. After the buyout, Franklin Resources will hold complete and total ownership of Pelagos Capital Management. The acquisition started in 2010 when Franklin Templeton gained 20 percent equity stake.
"We've developed a strong relationship with Pelagos since our initial investment in 2010 and after seeing growing interest from investors in alternative investment strategies, we are pleased to announce the completion of this acquisition," said William Yun, executive vice-president and Chief Finance Officer of Franklin Templeton Alternative Strategies.
Yun added that the expansion of Franklin Templeton's platform for alternative investments and solutions is a core strategy and initiative of their business. " The completion of the Pelagos acquisition represents an important step in our efforts to create new investment strategies and broaden our offerings across multiple distribution channels," he summed.
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